1、When the demand for something is greater than its supply, producers and suppliers will sense the possibility of making a profit the excess of revenues over expenses is the profit.
2、As the case illustrates, competition takes four general forms: pure competition, monopoly, monopolistic competition, and oligopoly.
3、The classic example of pure competition occurs with a commodity, like wheat or corn, that has so many producers that no one of them can control its selling price.
4、A monopoly occurs when one company alone offers a particular food or service and therefore controls the market and price for it.
5、Private restaurants serve gourmet food for $70 per person; incentives boosted agricultural production 25 percent and industrial output 80 percent in just three years; farmers are encouraged to raise as much as they can on their own plots, and some become almost rich in the process.
6、All these changes in Chinas economic life have brought changes in Chinas social and cultural life as well, many of which unwanted.
7、If productivity measures the efficiency of an economy, a measure of what an economic system produces is its gross national product , which is the current market value of all final goods and services that a nation produces within a particular period.
8、Current wisdom says that if you want a successful product, you need first to perform detailed market analysis, making sure that there are plenty of people who need the new product and that your entry into the market will be able to gain a significant share of that market.
9、Started at the turn of the century, 3M has been growing at a healthy rate of about 10 percent a year and it boasts of having 45,000 products on the market.
10、An entrepreneur is someone like Tom Monaghan, the man who after brushes with bankruptcy turned Dominos Pizza into the nations fastest growing franchise chain.